pated weighted average life at the time of
purchase. Consequently, an investor in non-
sticky jump securities should carefully con-
sider the likelihood and probable frequency
of the occurrence of the trigger event in
analyzing the anticipated weighted average
life of the securities acquired.
The rate of principal payments on the un-
derlying certificates will directly affect the
rate of principal payments on the group 2,
3, 4 and 10 securities. The underlying cer-
tificates will be sensitive in varying degrees
to
the rate of payments of principal (includ-
ing prepayments) of the related mortgage
loans, and
the priorities for the distribution of princi-
pal among the classes of the related under-
lying series.
As described in the related underlying certifi-
cate disclosure documents, the underlying
certificates included in trust asset groups 2,
3, 4 and 10 are not entitled to distributions of
principal until certain classes of the related
underlying series have been retired and, ac-
cordingly, distributions of principal of the
related mortgage loans for extended periods
may be applied to the distribution of princi-
pal of those classes of certificates having
priority over the underlying certificates. Ac-
cordingly, the underlying certificates may re-
ceive no principal distributions for extended
periods of time or may receive principal pay-
ments that vary widely from period to period.
In addition, the principal entitlement of the
underlying certificates included in trust asset
groups 3, 4 and 10 on any payment date is
calculated on the basis of schedules; no as-
surance can be given that the underlying
certificates will adhere to their schedules.
Further, prepayments on the related mort-
gage loans may have occurred at rates faster
or slower than those initially assumed.
This supplement contains no information as
to whether the underlying certificates have
adhered to their principal balance schedules,
whether any related supporting classes re-
main outstanding or whether the underlying
certificates otherwise have performed as orig-
inally anticipated. Additional information as
to the underlying certificates may be ob-
tained by performing an analysis of current
principal factors of the underlying certifi-
cates in light of applicable information con-
tained in the related underlying certificate
disclosure documents.
The securities may not be a suitable invest-
ment for you. The securities, especially the
group 2, 3, 4 and 10 securities and, in partic-
ular, the support, interest only, principal
only, inverse floating rate, non-sticky jump,
accrual and residual classes, are not suitable
investments for all investors.
In addition, although the sponsor intends to
make a market for the purchase and sale of
the securities after their initial issuance, it
has no obligation to do so. There is no assur-
ance that a secondary market will develop,
that any secondary market will continue, or
that the price at which you can sell an invest-
ment in any class will enable you to realize a
desired yield on that investment.
You will bear the market risks of your invest-
ment. The market values of the classes are
likely to fluctuate. These fluctuations may be
significant and could result in significant
losses to you.
The secondary markets for mortgage-related
securities have experienced periods of illi-
quidity and can be expected to do so in the
future. Illiquidity can have a severely adverse
effect on the prices of classes that are espe-
cially sensitive to prepayment or interest rate
risk or that have been structured to meet the
investment requirements of limited catego-
ries of investors.
The residual securities may experience sig-
nificant adverse tax timing consequences. Ac-
cordingly, you are urged to consult tax
advisors and to consider the after-tax effect of
ownership of a residual security and the suit-
ability of the residual securities to your in-
vestment objectives. See "Certain Federal
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